Kaohsiung, Oct. 27 (CNA) The Ambassador Hotel Kaohsiung will close its doors in January after more than four decades in business, hotel management said Thursday.
Continental Holdings Corp (CHC, 欣陸投控) yesterday said it is looking at further business improvement this year, thanks to ample contracts and projects on hand, after achieving double-digit percentage growth in profit and revenue last year.
Consolidated revenue last year expanded 23.8 percent year-on-year to NT$26.84 billion (US$937.64 million), while net profit picked up 18.7 percent to NT$1.8 billion, with contributions from all three business segments: Continental Engineering Corp (大陸工程), Continental Development Corp (CDC, 大陸建設) and HDEC Corp (欣達環工), it said.
The results translated into earnings of NT$2.22 per share. The Taipei-based group has proposed distributing a cash dividend of NT$1.68 per share
Ambassador Hotels and Restaurants (國賓飯店) on Tuesday approved plans to seek urban renewal for its property in Kaohsiung, following a similar move last year for its flagship hotel in Taipei to cope with a business slowdown caused by the COVID-19 pandemic, the company said in a regulatory filing.
The hospitality provider, which ceased guestroom operations at Ambassador Hotel Taipei (台北國賓飯店) in July, said the 40-year-old Ambassador Hotel Kaohsiung (高雄國賓飯店) has been hit hard by border controls and social distancing measures.
Urban renewal would allow both properties to boost their floor area and value, the filing said.
Ambassador Hotel Taipei sits on a 1,454